MIRA
INFORM REPORT
|
Report Date : |
21.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SHRENIK INDUSTRIES |
|
|
|
|
Registered Office : |
Gut No. 351 to 359 Post Majale, Taluka Hatkanamgale District Kolhapur
- 416 101, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 (Estimated) |
|
|
|
|
Year of Establishment : |
2005 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
KLPS03421F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AARFS8972Q |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
|
|
|
|
Line of Business : |
Manufacturer of Wind Mill Tabular Towers |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is part of Sanjay
Ghodawat Group, a family group of medium
sized, controlled and managed by Mr. Sanjay Ghodawat The group is conservative and denied most of the details. Hence, this
report is based on indirect or secondary sources of information. Trade relations are fair. Payments are usually correct and as per
commitments. The concern can be considered good for normal business dealings at
usual trade terms and conditions. |
INFORMATION
DECLINED BY
|
Name : |
Mr. Dada Patil |
|
Designation : |
Finance Head |
|
Date : |
20.08.2008 |
LOCATIONS
|
Registered Office/ Factory : |
Gut No. 351 to 359 Post Majale, Taluka Hatkanamgale District Kolhapur
- 416 101, Maharashtra, India |
|
Tel. No.: |
91-230-2483714 / 15 |
|
Fax No.: |
91-230-2483774 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
200000 Sq.Mtrs |
|
Location: |
Owned |
PARTNERS
|
Name : |
Mr. Sanjay Ghodawat |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mrs. Neeta Ghodawat |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Sadashiv Bhise |
|
Designation : |
Partner |
|
|
|
|
Name : |
Ghodawat Industries India Private Limited |
|
Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Mr. Dada Patil |
|
Designation : |
Finance Head |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Wind Mill Tabular Towers |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
Europe |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 days) |
|
|
|
|
Purchasing : |
Cash, Credit (30 days) |
GENERAL
INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
540 (40 in Office and 500 in Factory) |
|
|
|
|
Bankers : |
·
State Bank of India, Kolhapur, Maharashtra,
India ·
HDFC Bank, Kolhapur, Maharashtra, India |
|
|
|
|
Facilities : |
The concern reported to
enjoy substantial facility from its
bankers |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Associates/Subsidiaries : |
Subject have 9 Sister Concerns They all come under Ghodawat Group which includes 10 companies. ·
Ghodawat
Industries (India) Private Limited Corporate Office
Address : Plot No. 438, P. B. No. 118,
Post : Chipri, (Via-Jaysingpur), Dist : Kolhapur, Maharashtra, India Tel No.: 91-2322-255023 / 255212 /18 Fax No.: 91-2322-255059
/ 255211 E-Mail: info@sdggroup.in klp_starpanmasala@sancharnet.in Websites : www.sdggroup.in · Ghodawat Foods International Private Limited · Star PVG · Star Flexi Pack Industries · Shrenik Industries · Shreya Exports · Star Oxochem Private Limited · Starline Textiles |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 20.000 millions |
|
Borrowed : |
---- |
|
Total : |
Rs. 20.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2008 (Estimated) |
|
|
|
|
|
|
Sales Turnover |
|
|
200.000 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:-
· Suzlon Industries Limited, Pune
WEBSITE DETAILS:-
Company Profile:-
This id
the engineering Division of the group engaged in Heavy Fabrication Engineering
unit. The unit is mainly involved in the manufacturing of Wind Mill Tabular
Towers mainly, 56 Meter and 75 Meter Towers. They have manufacturing capacity
of 250 Nos. per annum of 56 Meter towers and 150 Nos. of 75 Meter towers. They
manufacture windmill towers as per customers requirements. This project in one
of the very few projects in the country
The dynamic entrepreneurship and vision of Mr. Sanjay D. Ghodawat has
led 'Sanjay Ghodawat Group of Industries' popularly known as STAR GROUP, to a
remarkable success in a short span.
The key for this success is to provide "Uncompromising Quality at
Competitive Prices".
Today, the Sanjay Ghodawat Group has diversified its activities into different
streams viz. Wind Power, High-Tech Agriculture, Chemicals, Flexible Packaging,
Edible Oils, Real Estates, Heavy engineering, Textile division and FMCG. Now,
the focus would be to provide FMCG products and packaged essential commodities
to the people at competitive prices.
MISSION:
The
mission of 'Sanjay Ghodawat Group is to strive hard to uplift the socio-
economical status of the society through their industrial ventures.
VISION
:
To provide their customers best of products
and to surpass customer’s expectations by leveraging latest technology and
excellent human resources for their complete satisfaction.
Agro division
Green Revolution
The company owns Green Houses and has a plantation of
exotic flowers in over 33 acres of land. The variety of flowers grown here are
mainly Roses and Gerbera.
There are various kinds of exotic roses and to name a
few like, Grand Gala, Royal Class, Passion, Marie Claire, Ice Burge, Poison,
African Dawn etc.
They also expertise in open farming, Titanic Grapes
and Banana gardens in over 70 acres of land.
Roses are exported to Japan and various parts of
Europe. The Company has future plans to venture into cultivation of medicinal
plants for which it will tie up with the pharmaceutical companies
Pan masala
division
The Leading Brands
The products offered under this division are STAR555
Gutkha and Pan Masala, Josh111 Gutkha and Pan Masala, Lagan Gutkha, SG555Gutkha,
Star555 Scented Supari and Zarda.
FMCG Division
Mosquito Coil
The first product under this division is Mosquito
Coil. The commercial production of this product commenced from January 2004.
This
is a full fledged plant having latest technology. The installed capacity of the
plant is 180000 (108,000,000 coils) per annum. They also manufacture liquid
vaporizer and mosquito repellent mats under the brand name “Star555”.
Currently the marketing activities prevail in
Maharashtra and Karnataka.
Aviation Division
Easy Acessiblity
As the group activities are spread all over the
country, the company has recently acquired a Helicopter (Euro copter Make) in
the year 2004 to save the traveling time of top brass management. The Company
is also in the process of acquiring 9 seater Executive Plane.
Edible Oil
To meet the growing demand of Packaged Edible Oil and
Extraction, Sanjay Ghodawat Group has set up a Solvent Extraction and Edible
Oil Refinery plant viz. Ghodawat Foods International Private. Limited. in the year
2003. The manufacturing capacity of Solvent Extraction is 250 MTPD with further
expansion of 500 MTPD and that of Edible Oil Refinery is 100 MTPD.
The packaged Edible Oil is sold under brand name
STAR555, in domestic market completely. The Extraction i.e. de-oiled cake (DOC)
is being exported to the extent of 80% and remaining DOC is being sold in
domestic market.
The
Solvent Extraction Plant is set up by TEAM Engineering, Mumbai and the plant
has ultramodern equipment.
The Edible Oil Refinery is set up by Alfa Laval India
Limited by using advanced 'Soft Column Technology'.
The Company has its own laboratory for testing and
analysis of various products and raw materials.
Currently this plant is into manufacturing and
packaging of Soya Bean, Sunflower, Ground Nut, Coconut, Rapeseed, Cotton Seed
and Palmolein Refined oil.
Star PVG Exports
Indian mining and logistics toddy witness a new and
extensive exploration with the amalgamation of two giant coiporate's.
Strategically coming together to scale the unexplored heights in iron oie
exports an unprecedented winning move that is all set to magnify the scope and
opportunities of the nation globally.
Under the ravishing brand of STAR PVG Exports, the
duo will iron oie mines, implement work class and environment friendly iron ore
techniques, engage in customized ciushing, screening and washing units to
extract and export iron oie world wide through it's own network of rail and
wagon and shipping lines.
Innovative Technology Measures and Uniqueness
The Latest equipments such as Wheel-loaders, Ten
Wheeler Trucks, Volvo Trucks etc, have been utilized by the company for their
operations, the firm has set up a very good communication system In all their
operational areas providing high frequency walkie talkies, CUG Mobiles to their
personnel In their offices, sites and mines. It has been using advanced system
of water sprinklers for dust suppression and planted large number of saplings
at its site area at Tinaighat to maintain ecological balance.
Future Plans
Setting up of a mobile Crushers and mobile Screening
plants for Iron Ore 100% E.O.U. to increase the grade of the Ore.
Mining Activity of lion Ore In Karnataka and In
Orissa.
Exploring opportunities for export of Bauxite and
Aluminous Latehte to Gulf Countries.
Setting up a chain of Petroleum Outlets in Karnataka,
Maharashtra and Goa, India.
Beneficiation plant for upgradatlon of lion Ore.
Installation of Mechanical Ore Handling Plant having capacity
to load the vessel at 4000 tons per hour at Vishakapatnam Port and New
Mangalore Port each. This handling plant will reduce the vessel loading time
drastically and save demurrage which will help fast clearance of vessels.
Star Flexi Pack
industries
Flexible Packaging
The unit is well equipped with various types of hi-speed printing
machines such as Rotogravure Printing Machines (Two Nos.) having 10 color and 8
color units manufactured by and expert industries, with auto-registration
control system ( Both Horizontal and Vertical) and web video to maintain the
quality with a yield of 250 Mtrs. / Min. Expert machine is having extra
printing cartridges and automatic roll changing devices.
To maintain the printing quality the unit is equipped with two inspection
machines.
Recently installed one imported Combi Laminator (Solvent less and Solvent
Based) Italy make NORDMECCANICA to achieve the targets with quality work.
One high-speed solvent free lamination machine, S.P. Ultra flex make, with
Contaldee Dozing unit (Italy Made) to avoid odor problem of end product.
Also, the unit has introduced High speed slitting machines (Three Nos.) with a
maximum yield of 350 – 400 Mtrs. / Min. 6 No. Mamata make pouching machines are
used to make center seal and side seal and gusset pouch with an average of 100
strokes per minute.
Inspection machines, Solvent – less and Solvent – base lamination machine,
slitting machines are shaft less, un-winder and re-winder quick changes over.
Multi layer Co-Extrusion machine, Mamata Brampton makes with internal bubble
cooling systems. With above advanced set-up, company is able to do any type of
printing / lamination jobs with various types of substrates.
At present exporting the laminate material to biscuit manufacturers like
Tiffany Foods, Dubai their major customers are Parle products, Dukes Hyderabad,
Pravin Masala etc.
Secondly at present they can do the laminate job with various structures such
as,
|
* Pet + Met Pet+ ldlld |
– 3 layer job |
|
* Pet + ldlld |
– 2 layer job |
|
* Pet + BOPP |
– 2 layer job |
|
* BOPP + BOPP |
– 2 layer job |
|
* BOPP + Met BOPP |
– 2 layer job |
|
* BOPP + CPP |
– 2 layer job |
· All types of food products, general products can be laminated jobs
FORCE VENTILATION SYSTEM
The plant has introduced a very new technology in this regard. From July 2002 the entire unit is centralized with Force Ventilation system to avoid Excessive dusting Heat / Solvent Vaporous/
UNITY DEPARTMENT
The department takes care of power generating units, which are provided
for un-interrupted power supply to keep production going on in case of power
failure from state electricity board.
QUALITY ASSURANCE
The raw material is consumed from well – reputed companied.
Quality control department examines the raw material before using it for
manufacturing of Flexible Packaging and assuring every stage of conversion
process.
The Group is well-aware of prompt delivery and best quality to satisfy
the customer.
Well-qualified and experienced technical staff with independent and
well-equipped quality assurance department.
With all these qualities the unit is being qualified for ISO 9002
Certificate.
Wind power
division
Green Power
The non renewable energy resources (viz. coal, gas,
water) for generating power are depleting day by day and the need of the hour
is to generate green power (non polluting) from renewable energy resources like
wind and sun.
Keeping this in mind, the Company has set up wind
farms of capacity 100 MW in various states viz. Maharashtra, Karnataka and
Rajasthan. The Investment of the Company in this sector is nearly 5000
millions. The electricity generated from these wind farms is being sold to
State Electricity Boards as well as to private industries.
Recently company has set up wind farm in the state of
Gujarat with installed capacity of over 10 MW.
Shreya Exports
Edible Salt
FMCG Division of Shreya Exports is engaged in
packaging and distribution of free-flow iodized salt under the brand name “STAR555”
this unit has expanded its sales activities in various states of Maharashtra,
Karnataka Orissa, Gujarat, Rajasthan M.P. Chhattisgarh, and A.P.
The sale today, has reached the mark of 25,000 M.T.P.A.
etc. The products of this division are available in various quantity and sizes.
Premium Tea
This is another Sanjay Ghodawat Group entity. The
main activity of this entity is blending and marketing of Tea under the brand
name STAR555. Various types of blends available are dust, premium
dust, leaf, premium leaf etc.
Presently the products of this unit are marketed in
Maharashtra, Karnataka and Goa. Activity started in the year 2004
Star Oxochem
Private Limited
Sanjay Ghodawat Group in partnership with Jain Group
of Mumbai and Remik Group of Gujarat entered into Chemical Industry in 1997 by
setting up a Plant to manufacture OXALIC ACID by the name Star Oxochem Private
Limited. This is the second largest manufacturing plant of Oxalic Acid in India
having manufacturing capacity of 30 MTPD. Oxalic Acid is mainly used in Textile
Industry, Pharmaceutical Industry, Dyes Industry and Leather Industry. 60% of
the production is exported all over the world especially to U.S.A., U.K.,
Netherlands, Taiwan, Italy, Greece, and Mexico.
In the Year 2001, the company has set
up manufacturing plant of DIETHYL OXALATE (DEO), one more value added product
of the company for which Oxalic Acid itself is a base raw material. The
capacity of this plant is 5.5 MTPD. DEO is mainly used in Sulpha Drug Industry.
In the year 2003, the company has set
up plant for manufacturing of ETHANOL, having manufacturing capacity of 12
KLPD. It is supplied to Petroleum companies for blending purpose. It is also
used in Drugs Industry.
The Company has its own well-equipped
ultra modern laboratory for testing and analyzing of various products and raw
materials.
The plant is run by well qualified and
experienced technical staff with independent and well equipped quality
assurance department
The company also has its own effluent treatment plant
for disposing the effluents of various processes.
Star line Textiles
The company is accredited with ISO 9001:2000
certificate.
Textile Industry
Starline Textiles, another enterprise of Sanjay Ghodawat
has come up with wide range of apparel fabrics in shirting and suiting.
In the coming years, there will be a huge demand for
top quality of yarn dyed shirting fabrics, as well as suiting fabrics all over
the world due to closure of lot weaving units in Europe and U.S.A.
These fabrics are produced on most advanced Picanol
Gammax Rapier weaving machines. These machines are equipped with 8 colour weft
insertion with fancy let-off attachment to produce wide range of fancy fabrics.
The weaving shed is equipped with Luwa
Humidiffication Plant.
The Company plants also to enter into garments
manufacturing and export business very soon.
Real Estate
Investment Zone
TOPAZ INVESTMENTS PRIVATE LIMITED
The main activity in this company is acquiring the premises
and leasing them out to the prospective Lessees. At present the Company has
leased out the premises to renowned MNCs such as:
- Philips Electronics India Limited.
- Trianz Consulting Private. Limited.
Bangalore
- Trianz Consulting Private. Limited.
Bangalore
- ABB Limited., Bangalore
- Beceem Communications Private.
Limited., Bangalore
- Concerto Software India Private.
Limited., Bangalore
- Aspect Technology Center (I)
Private., Limited. (2 and 3), Bangalore
- Aspect Technology Center (I) Private.,
Limited (6)., Bangalore
- BMR Associates , Banagalore
- Vikas Telecom Limited. Banagalore
- Hewlett Packard Soft. Operations (I)
Limited., Banagalore
- Ingersoll Rand International (I)
Limited., Banagalore
- Network General Software (I)
Private., Limited, Banagalore
- Philips Electronics Limited.
Banagalore
- Stylus Commercial Services Private.
Limited. Bangalore
- Tomax India Software Private.
Limited. Banagalore
- Silicus Technologies (I) Private.
Limited, Pune
- E2E Serwiz Solutions Private.
Limited. Pune
- Suzlon Energy Limited., Pune
- Mantri Real Estate Private.,
Limited., Mumbai
Beyond Business
One hand in Charity is worth thousand hands in prayer
True to this, the group has always been a step ahead be it business or philanthropy.
The group has focused its strength to give humanity a face lift in all adverse
predicaments and calamities.
To serve the society, the needy, the
down trodden and every deprived brethren of the basic needs, the Sanjay
Ghodawat Group has initiated various charitable trusts thoroughly engaged in
extending its best helping hands. A cause to fulfill the social obligations a
call of duty towards humanity
Khivraj Ghodawat Charitable Trust
Runs a self funded 'Shree Gangabai Khivraj Ghodawat
Kanya Mahavidyalaya' located at Taluka Shirol, which has endowed literacy to
1400 girls since 1995, from 52 villages.
It is the only college in Jaysingpur
city with its own building and mastered staff that provides education in both
arts and commerce stream along with vocational courses like tailoring, fashion
designing, computer education etc....
A ray of hope that gives direction in giving
employment to the economically vulnerable classes.
Sou. Sushila Danchand Ghodawat Charitable Trust is
providing social, medical and educational help since its inception. Acharya
Shree Tulsi Blood Bank, one of the best Blood Bank in India, is run by this
Trust. The Trust also provides 'Ambulance Service' for Rural areas round the
Clock
Future Plans:
An 'International Residential School' covering an
area of 300 acres. Intensive
Care Unit (ICU) at Jaysingpur city with latest medical support.
Press Releases:-
Sanjay Ghodawat to
invest Rs 1000 millions for wind turbine facility near Kolhapur
Recently in
Kolhapur
The Sanjay Ghodawat Group, having diverse interest from gutkha
manufacturing to FMCG goods, plans to invest Rs 1000 millions for a wind turbine facility near Kolhapur.
American Superconductor Corporation has licensed its proprietary Windtec
WT1650 wind turbine design and manufacturing know-how to the company.
The company already has wind farms in Maharashtra, Gujarat, Rajasthan
and Karnataka with a cumulative installed capacity of about 100 MW. In 2004,
the group set up a heavy fabrication engineering company for making towers for
windmills.
In the current year, the company plans to invest Rs 200 millions for up
scaling its tower manufacturing. It will increase its capacity to produce
towers from 180 to 400 towers per year.
Wind farm
developer
Talking to Business Line,
Mr Shrenik Ghodawat, Managing Director of Ghodawat Industries (Wind Power
Division) said, “We would be combining our strength as a wind farm developer
and tower manufacturer for wind mills to produce the 1.65 MW turbines, which
would be sold in India as well as the West Asia, Southern Asia and African
market. We have already purchased 100 acres for setting up the turbine
facility” he said.
“Our company will utilise American Superconductor’s proprietary design,
technology and core electrical components to begin manufacturing of complete
wind turbines by 2009. American Superconductor would receive royalty on first
550 machines manufactured by the company.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.72 |
|
UK Pound |
1 |
Rs.81.45 |
|
Euro |
1 |
Rs.64.47 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|